If you can’t out iterate someone who is trying to copy you, you’re toast anyway.

This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.

A pivot is a change in strategy without a change in vision.

As an entrepreneur, I knew that if my company failed, I could always try again. So I often felt that the only real risk of true financial ruin came from the possibility of a serious illness that either exceeded my insurance plans lifetime limits, or was not covered due to rescission.

It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.

Reading is good, action is better.

Entrepreneurs can't forecast accurately, because they are trying something fundamentally new. So they will often be laughably behind plan - and on the brink of success.